Oct 29, 2020
The world of marketing moves fast. Growing alongside innovations in technology, new, convenient and exciting ways to engage and retain your customers are coming online.
Your customers expect nothing less than convenient and tailor-made services, accessed at a swipe on their smartphone. This is where proximity marketing and Card Linked Offers come in, harnessing the power of digital technology to provide personalised offers and benefits.
Let’s find out more about these leading marketing trends.
Card Linked Offers or CLOs are digital offers linked directly to a customer’s Debit or Credit Card. Offers can be redeemed simply by using the linked payment card to make the purchase.
These offers can be targeted according to the consumer’s likes and purchasing history. They can also be personalised according to the customer’s real-time geographic location. This can be incredibly lucrative, as a study by IBM quoted here by Martech tells us that 72 per cent of shoppers will act on a marketing message if they get it while they are close to the retailer.
For consumers, it’s convenient. They don’t have to remember to cut out a paper voucher or tap on an app, as relevant offers are presented to them without any effort on their part.
For retailers, consumers are incentivised to visit their stores, whereby boosting sales, not only of the items or campaign in the CLOs, but also additional spontaneous purchases. CLOs help retailers know more about their customers’ preferences. So every time a customer accepts or uses an offer, this information about their tastes can be used to shape future marketing messages.
The simplicity, relevance and immediacy of CLOs make them a winner for both merchants and shoppers.
Proximity marketing works with CLOs to deliver the most relevant and immediate experience to the consumer. It relies on shoppers using their smartphone to help make purchasing decisions. This makes total sense when you consider that according to Google, 84 per cent of smartphone users employ their devices to help them shop in physical stores.
It also taps into consumers’ readiness to take up offers that are personalised to their preferences. According to software company Instapage, 79 per cent of consumers are more likely to engage with an offer if it’s based on their likes or previous interaction with a brand. And, according to location data company Factual, 80 per cent of marketing experts said that this type of advertising translated into an 85 per cent growth in customers and a boost of 83 per cent in customer engagement.
So, how does it work?
Technology such as Bluetooth determines exactly where a consumer is via beacons that are placed at strategic points around stores. Ads are then sent directly to customers on their phones, alerting them about deals within their vicinity, making it super easy for consumers to pick up a bargain.
The technology can also be used to provide information to the customer, such as videos on how a product works or store maps. Additionally, an add-in option can be incorporated into proximity marketing. One example is by delivering a message to consumers’ phones asking if they would like to take advantage of your store’s current special offers.
The point is to make the shopping experience easy and enjoyable for the consumer, building loyalty and inspiring them to return to the store.
You can see how proximity marketing works closely in conjunction with CLOs, encouraging consumers to respond to offers, creating further engagement and, ultimately, boosting sales.
If you’re looking to increase engagement and sales using this effective and growing type of marketing, look no further than EonX’s Rewards Marketplace. This solution is a fully customisable branded rewards experience, that is personalised to your business and your customers’ preferences. Here, it gives you the opportunity to provide your customers with local and global offers with the convenience of accessing them anywhere and anytime (“always on” benefits).
EonX can also help you create a stand-alone CLO system for your customers, members or employees where they will use a branded card that is linked to their chosen Credit or Debit Card. This convenient solution means that users only need to use one method of payment to access personalised offers and benefits.
EonX provide you with the flexible, personal and rewarding way to continuously engage and retain your customers, members or employees. What’s more, whichever type of activity you choose, it’s recorded. This gives you access to valuable data so that you can harness crucial insights to take your business to the next level with data driven strategies.
The Rewards Marketplace can help grow your business and increase sales at the same time as giving your customers a seamless and personalised shopping experience.
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